Shares of Idea Cellular are likely to be in demand following the RBI allowing foreign institutional investors to buy up to 49 per cent stake in the telecom operator. The FII limit in the company was 24 per cent earlier. However, according to latest data available with the exchanges, FIIs currently hold 19.51 per cent stake in the company. The decision to increase the limit has come after the board and the shareholders of the company approved the resolution recently.
RBI nod for FII buy may boost Idea Cellular
June 13, 2014: